Record Year in 2016 for FINRA Enforcement Activity as Fines Soared

Posted on May 11th, 2017 at 10:37 AM
 Record Year in 2016 for FINRA Enforcement Activity as Fines Soared

From the Desk of Jim Eccleston at Eccleston Law LLC:

2016 was a record year for FINRA enforcement activity. Although the number of total cases decreased compared to the number in 2015, the monetary fines nearly doubled to $176 million.

Overall, there has been a 529% increase in penalties by FINRA since 2008. The increase in fines is attributed to the fact that FINRA frequently has been more likely to impose fines of up to $1 million or more against larger firms.

The uptick in the amount of penalties imposed by FINRA is based on its increased focus on issues involving cybersecurity, anti-money laundering policies and protection of senior clients. This trend by FINRA to increase enforcement and fines most likely will continue in 2017.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

Return to Archive



You are the best attorneys in the country.



November 28, 2023
Arbitration Mandated for Former Morgan Stanley Advisors' Class Claim on Deferred Compensation

A federal judge in Manhattan has granted Morgan Stanley’s request to transfer a potential class action lawsuit to arbitration.

November 28, 2023
Wells Fargo Under SEC Scrutiny for Cash Sweep Programs

The Securities and Exchange Commission (SEC) is investigating Wells Fargo & Company over cash sweep options provided to investment advisory clients.

November 22, 2023
FINRA Alleges $2 Million in Client Losses and $2 Million in Commissions Due to Advisor's Churning

According to a Financial Industry Regulatory Authority (FINRA) complaint, Stewart "Paxton" Ginn excessively traded accounts over two and a half years, resulting in $2.22 million in losses and $2.24 million in commissions for him and his firm.